Energy & Science
Big Freeze Threatens Texas With Blackouts as Markets Gyrate
- Traders compare situation to the California energy crisis
- Almost 800 daily low temperature records set across U.S.
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The arctic freeze gripping the central U.S. is raising the specter of power outages in Texas and ratcheting up pressure on energy prices already trading at unprecedented levels.
In Texas, where temperatures in Dallas are forecast to be 3 degrees Fahrenheit Monday (minus 16 Celsius), the operator of the state’s power grid warned it may need to resort to rolling blackouts as surging demand for heat strains the electrical system. While outages may occur Sunday, the risk is higher on Monday and Tuesday, when officials expect power demand in Texas to reach a record high.